Braskem S.A. (BAK) : 5 days before expiry, shorts in Braskem S.A. (BAK) have reduced from 2,693,029 on Jul 29, 2016, to 2,458,288 on August 15, 2016. On an average, 485,111 shares are traded on the exchange. The outstanding bearish positions are equal to 1.4% of the float. Short sellers have covered -234,741 shares, a reduction of -8.7%, which underlines that they dont expect the stock to fall further from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Braskem S.A. (NYSE:BAK): The stock opened at $13.77 on Wednesday but the bulls could not build on the opening and the stock topped out at $13.96 for the day. The stock traded down to $13.35 during the day, due to lack of any buying support eventually closed down at $13.80 with a loss of -0.50% for the day. The stock had closed at $13.87 on the previous day. The total traded volume was 393,522 shares.
Braskem S.A. (Braskem) is a producer of thermoplastic resins. The Company has 36 industrial plants, of which 29 are in Brazil, five in the United States and two in Europe. These units produce thermoplastic resins: polyethylene (PE), polypropylene (PP) and polyvinyl chloride (PVC), as well as basic petrochemicals. Braskems business operations consist of four production segments and one distribution segment: Basic Petrochemicals Unit, Polyolefins, Vinyls, United States and Europe, and Chemical distribution. Additionally, Braskem is also engaged in the import and export of chemicals, petrochemicals and fuels, the production, supply and sale of utilities such as steam, water, compressed air, industrial gases, as well as the provision of industrial services and the production, supply and sale of electric energy for its own use and use by other companies. Braskem also invests in other companies, either as a partner or as shareholder.